Electricity prices on the Nord Pool exchange change every 15 minutes. This means there are 96 separate price periods in a day, and a company’s electricity costs may depend not only on total consumption but also on when it is used. Price differences are determined by demand, generation, weather conditions, grid status, and other market factors. During certain periods, electricity can be significantly cheaper, for example, at night, on weekends, or when there is a lot of wind or solar energy on the market. At certain hours, the price can even become negative.
An industrial BESS system helps to practically take advantage of these price differences. It can be managed so that the batteries are charged when electricity is cheaper, and the stored energy is used to meet the company’s needs during more expensive periods. In this way, some of the electricity is purchased under more favourable conditions, and the business reduces its dependence on the most expensive price intervals.
Most importantly, this process can occur automatically. The management system evaluates exchange prices, facility consumption, battery charge levels, power demand, and predefined operating limits. Therefore, the BESS solution functions not as a backup battery, but as an actively managed energy system that helps optimise daily electricity consumption and better leverage the value industrial energy storage systems create for businesses.
Learn how the BESS differs from a standard energy storage system.